Quick Answer: Is 658 A Good Credit Score To Buy A Car?

A 658 FICO® Score is considered “Fair”.

Mortgage, auto, and personal loans are somewhat difficult to get with a 658 Credit Score.

Lenders normally don’t do business with borrowers that have fair credit because it’s too risky.

Can I buy a car with a 658 credit score?

A 658 credit score is not a good credit score, unfortunately. You need a score of at least 700 to have “good” credit. As a result, you should be able to get a credit card or loan with a 658 credit score. But a little bit of credit improvement will give you many more options and help you save a lot more money.

Is a credit score of 658 good or bad?

70% of U.S. consumers’ FICO® Scores are higher than 658. What’s more, your score of 658 is very close to the Good credit score range of 670-739. With some work, you may be able to reach (and even exceed) that score range, which could mean access to a greater range of credit and loans, at better interest rates.

Is 640 a good credit score to buy a car?

Someone with a score in the low 700s might see rates on used cars of about 6.5%, compared with 17% or more for a buyer with a score in the mid-500s, according to data provided by Experian. On a $20,000, five-year loan, that’s a monthly payment of $498 compared with $392 for the buyer with better credit.

What is a decent credit score to buy a car?

A good credit score to buy a car is usually above 660, which is the minimum score to be considered a “prime” borrower by Experian. However, there’s no industry-wide, official minimum credit score in order to qualify for an auto loan.